Business · 14 May 2026

Honda loses ¥423bn, cuts EV targets

Honda's electric vehicle investments have not paid off, causing the Japanese carmaker its first annual loss in 70 years. The company reported a ¥423bn operating loss for the year ending March 2026, and is now scrapping several EV production targets. Chief executive Toshihiro Mibe confirmed aims for EVs to make up a fifth of new car sales by 2030 are now gone.

By BriefTea Editorial · 14 May 2026 at 17:35

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